Shougang, Changzhi Iron merger talks 'going smoothly'

By Wang Xu and Li Weitao (
Updated: 2009-03-11 20:35

Talks about a merger between Shougang Iron & Steel and Shanxi-based Changzhi Iron & Steel are "going smoothly", Shougang Chairman Zhu Jimin said on Wednesday on the sidelines of the annual sessions of the National People's Congress.

Changzhi Iron & Steel has an annual capacity of 3 million tons. Zhu said Shanxi province is now working on a stimulus plan to revive the steel sector in the province, which could benefit Changzhi Iron & Steel.